Kent Reliance RS stays at 4.5%

Cappsy

Had a letter from Kent Reliance Building Socitey today confirming that following the recent BoE rate increase they will not be raising the interest rate on their Regular Savings account.

The rate has now remained the same since Jan 06, through three BoE rises.

I opened the account, like I think many others, after they announced the removal of their signaway clause.

Dissapointing but I suppose they are gambling that the hope of a future windfall compensates for a less competative interest rate.

Liz_the_Whizz

If you can put some money away for 12 months, Kent Reliance are currently offering a much more interesting (literally) Direct Tracker Rollover Bond, guaranteed at least 0.5% above BoE base rate for the life of the bond.

Currently at 5.5%, but will rise to 5.75% on 1st February according to the t&cs.

Min £500, so may be worth a switch if you want to keep an account with them in case of any merger activity. Then you can move any surplus to Icesave.

gil13

let's hope they pass on the full 0.25% on their direct ISA, or they will see a distinct lack of support going forward.

Cappsy

Thanks for that Liz, I had not noticed the tracker. Will have a look.

mystic_trev

Liz_the_Whizz wrote:

If you can put some money away for 12 months, Kent Reliance are currently offering a much more interesting (literally) Direct Tracker Rollover Bond, guaranteed at least 0.5% above BoE base rate for the life of the bond.

Currently at 5.5%, but will rise to 5.75% on 1st February according to the t&cs.

Min £500, so may be worth a switch if you want to keep an account with them in case of any merger activity. Then you can move any surplus to Icesave.

I recently opened one of these which I rekons not a bad deal - even better if thet get taken over / merged.